Ares Management Co. (NYSE:ARES) Chairman Sells $3,228,005.06 in Stock

Ares Management Co. (NYSE:ARES) Chairman Bennett Rosenthal sold 18,389 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $175.54, for a total transaction of $3,228,005.06. Following the completion of the transaction, the chairman now directly owns 114,967 shares of the company’s stock, valued at approximately $20,181,307.18. The trade was a 13.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bennett Rosenthal also recently made the following trade(s):

• On Wednesday, November 20th, Bennett Rosenthal sold 26,336 shares of Ares Management stock. The stock was sold at an average price of $171.18, for a total value of $4,508,196.48.
• On Monday, November 18th, Bennett Rosenthal sold 15,763 shares of Ares Management stock. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12.
• On Friday, November 15th, Bennett Rosenthal sold 20,048 shares of Ares Management stock. The shares were sold at an average price of $167.44, for a total value of $3,356,837.12.
• On Thursday, September 12th, Bennett Rosenthal sold 75,000 shares of Ares Management stock. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00.
• On Tuesday, September 3rd, Bennett Rosenthal sold 26,579 shares of Ares Management stock. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14.
• On Thursday, August 29th, Bennett Rosenthal sold 13,533 shares of Ares Management stock. The stock was sold at an average price of $145.12, for a total transaction of $1,963,908.96.

Ares Management Stock Up 0.3 %

Ares Management stock opened at $175.52 on Monday. The firm has a market capitalization of $54.95 billion, a P/E ratio of 80.88, a P/E/G ratio of 1.91 and a beta of 1.20. The company has a 50-day simple moving average of $163.69 and a 200-day simple moving average of $149.29. Ares Management Co. has a one year low of $107.69 and a one year high of $176.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same period in the prior year, the company posted $0.83 EPS. As a group, equities analysts expect that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.12%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ARES shares. Wells Fargo & Company lifted their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Royal Bank of Canada boosted their price target on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen raised their price objective on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. UBS Group boosted their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Ares Management by 1.0% in the 3rd quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after acquiring an additional 63,851 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after buying an additional 1,867,933 shares in the last quarter. State Street Corp grew its position in Ares Management by 5.1% in the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock worth $596,318,000 after buying an additional 187,184 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Ares Management by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock worth $459,580,000 after acquiring an additional 175,627 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ares Management by 31.3% during the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after purchasing an additional 678,549 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

About Ares Management

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.